Lori's Company Has the Following Items: Cash in a Checking

question 150

Multiple Choice

Lori's Company has the following items: cash in a checking account,$1,000; cash in a savings account,$4,000; high-grade government securities due in one month,$3,586; accounts receivable,$3,000; cash in a compensating balance agreement,$3,200.How much should appear as Cash and Cash Equivalents on the balance sheet?

• A)$4,000
• B)$8,586
• C)$11,558
• D)$11,786

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